First Majestic Silver Corp. (AG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have received an average rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.08.

AG has been the topic of a number of recent research reports. ValuEngine upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research lowered shares of First Majestic Silver from a “hold” rating to a “strong sell” rating in a report on Friday, October 12th. HC Wainwright set a $9.00 price target on shares of First Majestic Silver and gave the stock a “buy” rating in a report on Tuesday, October 16th. Roth Capital set a $8.00 price target on shares of First Majestic Silver and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, TD Securities reiterated a “buy” rating on shares of First Majestic Silver in a report on Monday, October 22nd.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc raised its stake in First Majestic Silver by 0.4% during the third quarter. Vanguard Group Inc now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after buying an additional 14,475 shares during the last quarter. Vanguard Group Inc. raised its stake in First Majestic Silver by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after buying an additional 14,475 shares during the last quarter. Morgan Stanley raised its stake in First Majestic Silver by 39.4% during the third quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock worth $22,063,000 after buying an additional 1,097,560 shares during the last quarter. Fosun International Ltd bought a new position in First Majestic Silver during the third quarter worth $551,000. Finally, Hsbc Holdings PLC raised its stake in First Majestic Silver by 44.3% during the third quarter. Hsbc Holdings PLC now owns 95,837 shares of the mining company’s stock worth $544,000 after buying an additional 29,422 shares during the last quarter. 25.56% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver stock traded up $0.02 during mid-day trading on Friday, reaching $5.83. The company had a trading volume of 14,236 shares, compared to its average volume of 2,946,627. First Majestic Silver has a fifty-two week low of $4.59 and a fifty-two week high of $8.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.38 and a quick ratio of 2.85. The firm has a market capitalization of $1.13 billion, a P/E ratio of -146.13 and a beta of -0.22.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Wednesday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. The firm had revenue of $88.50 million for the quarter, compared to analyst estimates of $126.56 million. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, analysts expect that First Majestic Silver will post -0.2 earnings per share for the current year.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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